Thimphu (Bhutan): Bhutan, with a focus on sustainable and inclusive growth, has developed industries that are closely linked to its natural and cultural resources, The Bhutan Live reported.
The country's industrialization journey is a distinct departure from traditional paradigms across the world where the frenzied pursuit of economic growth often shadows environmental concerns, it said.
The hydropower industry is a prime example, capitalizing on the country's abundant water resources, Bhutan has turned to hydropower as a clean and sustainable source of energy and revenue. Not only does it power the country's industries and homes, but it also allows Bhutan to export electricity to neighbouring countries, bolstering its economy without damaging the environment, according to The Bhutan Live.
Tourism is another industry that Bhutan has nurtured carefully. The "high value, low impact" policy limits the number of tourists, minimizing environmental damage while maximizing income. Tourists are also educated on Bhutan's deep-rooted environmental ethics and encouraged to participate in sustainable practices.
The country has long been known for its commitment to environmental preservation. Nestled within the towering peaks of the Himalayas, over 70 per cent of the country is covered in forest, and it remains the world's only carbon-negative country. Its constitution mandates a minimum of 60 per cent forest cover for all future generations, The Bhutan Live said.
Their philosophy embedded deep within the fabric of the nation promotes holistic development and sustainability over GDP-focused growth, it said.
Bhutan's path to sustainable industrialization is, however, not without challenges. Climate change poses a significant threat, with melting glaciers leading to increased flood risks. Infrastructure development for industries, while necessary for economic growth, also risks damaging the natural environment if not carefully managed.
The country's unique approach has yielded impressive results; it faces the challenge of ensuring its growing population can thrive economically without compromising sustainability. Balancing the needs of industrial development and environmental conservation is a constant juggling act, according to The Bhutan Live. —ANI
